EFPR Group Continues to Expand in Buffalo, N.Y.

Rochester, N.Y.-based EFPR Group (FY17 net revenue of $25.4 million) is merging in the accounting practice of Nowicki & Company of West Seneca, N.Y., into its Williamsville, N.Y., office.

The merger, effective Nov. 1, is expected to bring benefits to the clients and employees of both organizations and strengthen the business services EFPR Group now provides to its client base of more than 10,000.

“Our decision to unite with the West Seneca practice was based on the outstanding quality and service Ray Nowicki has provided to clients for over 30 years,” says James I. Marasco, EFPR Group MP. “The Nowicki & Company reputation for providing extraordinary tax planning, preparation and consulting is consistent with our mission to help clients make intelligent and informed financial decisions.”

He adds that the firm is considering additional mergers and acquisitions in upstate New York.

Raymond Nowicki, Laura Geiger and Paul Kiel will join EFPR Group as partners and will be responsible for client relations, new business development and growing the commercial services practice. Additional staff members will also join as part of this transition.

EFPR Group has been serving clients across the United States and abroad for 60 years with a comprehensive array of tax consulting and planning services in addition to auditing, forensic accounting, business valuation, accounting, outsourcing automation services and other business management services.

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Association Affiliation Among the 2019 IPA 400 Firms

INSIDE Public Accounting thanks the member firms from 37 international accounting associations that have participated in our annual survey. Their data helps provide a clear picture of the state of the profession today. A special thank you goes to the following associations that partner with IPA to survey their members: CPAmerica, DFK, INPACT, LEA, Moore NA, PKF North America and PrimeGlobal. We are grateful for your support.

AssociationIPA 100IPA 200IPA 300IPA 400
Abacus Worldwide
AGN International
Allinial Global
Alliott Group
Andersen Global
Baker Tilly International
BDO Alliance USA
BKR International
CPA Associates International
CPAmerica International
Crowe Horwath International
DFK International
Enterprise Worldwide
Geneva Group International
Grant Thornton International
HLB International
IAPA International
Integra International
Kreston International
LEA Global
Mazars Group
MGI International
Moore NA
Morison KSi
MSI Global Alliance
Nexia International
PKF International
RSM US Alliance
Russell Bedford
UHY International
No Association Affiliation

HHM CPAs Management Team Grows in Chattanooga Office

Chattanooga, Tenn.-based Henderson Hutcherson & McCullough (FY18 net revenue of $30.2 million) has hired five senior-level professionals in its Chattanooga office: two partners, a director, a manager and a senior accountant.

HHM has admitted John Klisch as a partner in the accounting and assurance department. He supports the department by providing specialized financial, accounting and auditing experience to mid-sized companies in various industries. For over 30 years, he has helped clients with mergers and acquisitions, regulatory requirements, complex technical issues and corporate governance best practices.

Also joining the firm’s leadership is Stuart McCallum, who was admitted as a partner in the management advisory services department. Bringing years of experience with one of the nation’s top accounting firms, he will provide businesses with due diligence support, transaction closing support and financial modeling. Prior to joining HHM, he was the vice president of investment banking for a boutique investment bank where he focused on the technology industry.

Additionally, Terry Winstead is HHM’s newest director in the accounting and assurance department, Brian Miller is now tax manager and Diane Mahoney joins HHM as a senior accountant.

“Bringing in additional talent will help HHM increase the value we can add to our clients and their businesses,” says MP Donnie Hutcherson.

AAFCPAs Expands Cannabis Practice

Kevin Michaelan

Westborough, Mass.-based AAFCPAs (FY18 net revenue of $33.5 million) has expanded its cannabis practice with the addition of Kevin Michaelan, who will lead the growing niche from the firm’s Boston office.

The firm advises businesses and investors throughout the business lifecycle, including start-ups, entities expanding into multi-state operations, and those planning to exit the business. Michaelan is known for his deep knowledge of trends impacting the industry, such as aggressive growth, rapidly changing regulations, cross-border restrictions, and mergers and acquisitions.

“He is deeply immersed in the cannabis space and well-known for his prolific tax and business strategies,” says co-MP Dave McManus.

“Cannabis companies are challenged by capital and taxes,” Michaelan says. “We have proven strategies to address both and I’m eager to turn these strategies into competitive advantages for AAFCPAs’ clients.”

Leah LeLoup Admitted to Partnership at Hutchinson and Bloodgood

Leah LeLoup

Glendale, Calif.-based Hutchinson and Bloodgood (FY18 net revenue of $30 million) has announced the admission of Leah LeLoup to partner.

LeLoup joined the firm in 2010. Based in San Diego, she works with a variety of industries including software, bio-tech, alternative energy, professional services and real estate.

She specializes in international tax compliance for both domestic and foreign companies as well as individual tax returns with a focus on U.S. expats and those who are new to the U.S. tax system.

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Alex Martin Joins KBKG’s Executive Team, Leads New Practice

Alex Martin

Pasadena, Calif.-based KBKG, announces that Alex Martin has been hired to lead the new transfer pricing practice for cross-border businesses. He has been admitted as a principal and joins the executive team.

KBKG, a sister company of KROST (FY18 net revenue of $33.8 million), provides tax specialty services designed to complement traditional tax and accounting practices.

Transfer pricing is the cross-border pricing of goods, royalties, services and loans that drives how much income tax a multi-national company pays by country. With Martin at the helm, KBKG will assist U.S. and international companies in establishing, documenting and defending transfer pricing practices for the IRS and international tax authorities.

He comes to KBKG with over 22 years of international transfer pricing experience. He has worked for a Big 4 firm, a middle-market firm and at Productive Pricing LLC, his own consultancy.

MP Greg Kniss says, “Alex’s U.S. and global transfer pricing expertise broadens the scope of our tax specialty services provided to both U.S. and international clients. While transfer pricing can be a highly contentious tax issue for multi-nationals, Alex has the experience to deliver practical savings strategies for companies competing internationally. Through his unique expertise in this space, Alex will be an invaluable asset to the businesses and CPA firms we support.”

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Hutchinson and Bloodgood Admits New Partners

Glendale, Calif.-based Hutchinson and Bloodgood (FY18 net revenue of $30 million) has announced the admission of the following individuals to partner:

  • Susy Galloway, tax, El Centro, Calif.
  • Luba Kvitchko, international tax, Glendale
  • Kimbra Said, audit, Watsonville, Calif.
  • Sue Son, tax, Glendale

“We are extremely pleased to see the admission of these highly capable and talented people to partner. They have distinguished themselves as leaders and are tremendous assets to our firm. Each of these appointments will keep the firm on its path of long-term success and increased customer value,” says MP Richard Preciado.

Hutchinson and Bloodgood is an affiliate of PKF International and Allinial Global.

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Boulay Acquires Robert Steffen Advisory Firm

Eden Prairie, Minn.-based Boulay (FY19 net revenue of $34.1 million) has acquired Robert Steffen & Associates, an investment advisor firm in Bloomington, Minn., that serves more than 250 families and businesses.

“The decision to join Boulay was driven by my desire to serve my clients to the best of my ability,” says Robert Steffen. “Partnering with Boulay means adding capabilities, like additional talent and increased technology, that can enhance the already exceptional service that we have come to be known for.”

The combined firms will have 33 partners and more than 180 employees serving high-net-worth clients and businesses in manufacturing, distribution, medical, retail, professional services, construction and real estate industries. Boulay is now ranked No. 108 on IPA’s 2019 ranking of largest accounting firms in the nation. The firm says the acquisition is part of Boulay’s strategy to become an IPA 100 firm.

“Bob has been a longtime friend of Boulay and his firm brings decades of experience in serving clients with a fiduciary approach,” says Boulay partner Jay Brown. “As Boulay continues to grow, we are incredibly happy that Bob and his team are joining us for the next chapter in their careers.”

Steffan says that he has talked with several firms about joining forces, “but I never came away 100% comfortable with their approach and priorities. I don’t have those concerns about Boulay. They have a growing wealth management team that shares the Robert Steffen and Associates mission to ‘do right by our clients.’ ”  The team is moving to Boulay’s Eden Prairie office.

Keiter Admits Menefee and Murray to Partnership

Amy Rybar Menefee

Keiter of Glen Allen, Va., (FY18 net revenue of $29.3 million) announces that Amy Rybar Menefee and John Murray have been admitted to the partnership.

John Murray

MP Gary Wallace says of Menefee and Murray, “They have worked hard to build their brand internally and in our market. They have developed strong areas of expertise, and they actively seek opportunities to make our firm better. We look forward to the leadership, insights and innovation they will each provide to Keiter in the coming years.”

Menefee has over 14 years of experience providing audit and consulting services to clients in the insurance, not-for-profit, waste management and manufacturing industries. She is a member of Keiter’s not-for-profit, mergers and acquisitions, and manufacturing and distribution industry teams. In addition, she serves on the recruiting and scheduling committees at Keiter.

Murray has over 13 years of experience providing tax planning opportunities and insights for closely held businesses in real estate, manufacturing and distribution, technology, private equity, financial services and individuals. He is a member of Keiter’s financial services and mergers and acquisitions niche groups. In addition, he serves on the firm’s workflow, XCM, scheduling and technology committees, and he teaches and develops staff.

BDO Makes Inroads in Seattle Area with Peterson Sullivan Merger

Chicago-based BDO USA (FY19 net revenue of $1.64 billion) is acquiring Peterson Sullivan of Seattle, marking further expansion into the Pacific Northwest with 175 staff, including partners. The deal should be complete Nov. 1.

Wayne Berson, CEO of BDO USA, says the addition is part of the targeted growth strategy of the firm, which is ranked No. 7 on the 2019 IPA 100 list. “Peterson Sullivan and BDO share common values – believing strongly that an exceptional culture with exceptional people results in an exceptional client experience.”

Chris Russell

Peterson Sullivan (FY18 net revenue of $31.9 million), founded in 1953, serves clients in a variety of industries, including auto dealerships, construction, hospitality and consumer products, life sciences, manufacturing, nonprofit, professional services, real estate and technology.

“Peterson Sullivan has built our reputation over the last 65 years by providing exceptional client service and developing deep connections within the community,” says MP Chris Russell. “In joining BDO, our clients will continue to receive the personalized and responsive attention they have come to expect, now with enhanced access to more specialized services, broader industry expertise, and BDO’s extensive global network.”

Russell will continue his focus on the region’s business and civic communities as the market MP for BDO in Seattle. Michael Reeves and Bob Filip will continue in their respective roles as BDO’s assurance and tax managing partners for the combined Seattle practice.

“BDO has fueled its tremendous growth by combining with entrepreneurial and successful CPA firms that not only complement their service offerings and culture, but add value for their clients,” says Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the combination. “Peterson Sullivan garnered interest from many national and mega-regional firms. Ultimately, they felt BDO provided their partners and associates with a great playbook and platform to expand services to their clients.”

BDO plans to consolidate its offices into the current Peterson Sullivan location. In the interim, the firm will maintain two offices.

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